Extra-condensed knowledge
This is a Gallup gold knowledge article that provides an in-depth analysis of digital transformation and proposes 8 key steps to increase the odds of a successful digital transformation.
CONTEXT
- g-f(2)151 The Big Picture of the Digital Transformation, 3/1/2021, geniouxfacts, How To Succeed At Business Digital Transformation.
- g-f(2)156 The Big Picture of the Digital Transformation, 3/5/2021, MIT SMR, Digital savviness is the key ingredient in the success of corporate digital transformation.
- g-f(2)158 The Big Picture of the Digital Transformation, 3/7/2021, CNBC, A key to revenue growth in Big Tech era is missing at most companies.
- g-f(2)157 The Big Picture of the Digital Transformation, 3/6/2021, AP, Only 7% of larger companies have digitally savvy executive teams, and these teams deliver higher revenue growth and net margins.
- g-f(2)167 THE BIG PICTURE OF THE DIGITAL TRANSFORMATION, 3/13/2021, HBR, Is Your C-Suite Equipped to Lead a Digital Transformation?
Digital transformation is probably the most substantial investment modern organizations are making.
- Multiple sources put global investments at several trillion dollars in upcoming years, and they expect that number to keep growing.
- According to BCG, 70% of digital transformation initiatives fall short of their objectives.
Genioux knowledge fact condensed as an image
Condensed knowledge
- CONTEXT
- g-f(2)151 The Big Picture of the Digital Transformation, 3/1/2021, geniouxfacts, How To Succeed At Business Digital Transformation.
- g-f(2)156 The Big Picture of the Digital Transformation, 3/5/2021, MIT SMR, Digital savviness is the key ingredient in the success of corporate digital transformation.
- g-f(2)158 The Big Picture of the Digital Transformation, 3/7/2021, CNBC, A key to revenue growth in Big Tech era is missing at most companies.
- g-f(2)157 The Big Picture of the Digital Transformation, 3/6/2021, AP, Only 7% of larger companies have digitally savvy executive teams, and these teams deliver higher revenue growth and net margins.
- g-f(2)167 THE BIG PICTURE OF THE DIGITAL TRANSFORMATION, 3/13/2021, HBR, Is Your C-Suite Equipped to Lead a Digital Transformation?
- Digital transformation is probably the most substantial investment modern organizations are making.
- Multiple sources put global investments at several trillion dollars in upcoming years, and they expect that number to keep growing.
- According to BCG, 70% of digital transformation initiatives fall short of their objectives.
- Often, their failure is a direct consequence of poor change management.
- Only 17% of workers in the U.S. strongly agree that their company readily implements new technologies that help them be more productive.
- Gallup's Real Future of Work study finds on average only 22.5% of employees in Spain, France, Germany and the U.K. strongly agree their company upskills them to make effective use of new digital technologies.
- Without employee advocacy, the digital battle is lost upfront.
- Leaders can increase the odds of a successful digital transformation with eight strategic steps.
- Evaluate gaps and define new horizons.
- Build a measurable case.
- Sponsor the vision.
- Frame a change management approach.
- Embrace agile experimentation.
- Pilot use cases.
- Monitor impact and alignment.
- Chart a scaling road map.
- Leaders with a systematic approach to take advantage of new opportunities will win the battle of the future -- and see the investment pay off.
Category 2: The Big Picture of the Digital Age
[genioux fact deduced or extracted from Gallup]
Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
Type of validity of the "genioux fact".
- Inherited from sources + Supported by the knowledge of one or more experts.
Authors of the genioux fact
References
Championing Digital Transformation: Start With 8 Steps, Gerard Taboada, April 2, 2021, Gallup.
ABOUT THE AUTHORS
Consulting Associate and EMEA Innovation Lead at Gallup | Organisational Agility
About
People describe me as a curious intrapreneur. I love to disrupt convention and solve complex problems.
As a former semiprofessional athlete and amateur racing driver, sports have taught me that persistence and teamwork can take us further than we would have ever imagined.